In March, nearly 100 companies across various industries in the United States have announced plans to lay off employees, according to reports. These job cuts, disclosed through WARN notices, which are required under the Worker Adjustment and Retraining Notification Act, indicate a major shift in the US job market. Companies are letting go of employees in large numbers, with layoffs ranging from as few as 10 to as many as 500 workers.
The Worker Adjustment and Retraining Notification Act, enacted in 1989, requires companies with over 100 employees to notify workers, state, and local authorities about mass layoffs or plant closures. These notices have become an important gauge for tracking the state of the US workforce. As reported by Forbes, this wave of layoffs appears to be driven by factors such as rising interest rates, automation, and restructuring efforts within companies.
Retailers and tech companies lead the way
Among the companies facing layoffs this month, major retailers such as Joann Fabrics and Walgreens are taking significant hits. As reported by the US government, these companies are part of the nearly 100 companies planning job cuts in March. For example, Joann Fabrics, known for its craft supplies and fabrics, is reducing its workforce. Similarly, Walgreens will lay off employees in California and other states. This is part of a broader…
